NO SLUMP LIKELY.
EFFECT OE AMERICAN CURTAILMENT. United Press Assn..— By Electric Telegra ph—(’op slight. LONDON. December 7. There is no slump and no reason to anticipate a, slump, declared Rt. Hon. R. McKenna in a speech at Birmingham. He pointed out that the recent set-back in certain sections of trade had been caused by an almost complete cessation of expenditure by big American industrial companies. When they ceased to buy ray materials, prices fell and this affected the stock exchange, resulting in a certain decline in the luxury trade but returns from all over the country gave no indication that the decline was general.
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Bibliographic details
Pahiatua Herald, Volume XLIV, Issue 13729, 9 December 1937, Page 7
Word Count
105NO SLUMP LIKELY. Pahiatua Herald, Volume XLIV, Issue 13729, 9 December 1937, Page 7
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